mo4ch:>Brussels rejects Italy budget, paves way for sanctions | Mo4ch News - Mo4ch News

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Wednesday, November 21, 2018

mo4ch:>Brussels rejects Italy budget, paves way for sanctions | Mo4ch News

The European Union took the first step on Wednesday toward fining Italy after ruling that Rome's spending drive violates the bloc's fiscal rules.

In a report on Italy's debt, the European Commission said that it has rejected the Italian government's budget plan for 2019.

"Our analysis suggests that the debt rule must be considered to have not been respected," the report states. "We conclude that the opening of a procedure for excessive deficit based on the debt is therefore justified".

Brussels has repeatedly voiced concerns over Rome’s borrow-and-spend plans, warning the Italian government that it could trigger another debt crisis that would hurt them all.

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Source : RT - Daily news

Brussels rejects Italy budget, paves way for sanctions

Brussels rejects Italy budget, paves way for sanctions

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